House Panel Gives Registered Indexed Annuity Issuers an Official Boost
August 5, 2020 by Allison Bell
Members of the U.S. House voted 217-197 last week for H.R. 7617, a spending bill package that comes with a warm note of support for annuity issuers.
The provision could, possibly, push the U.S. Securities and Exchange Commission to simplify the process life insurers use to register variable indexed annuities.
The Insured Retirement Institute (IRI) has been making support for registered index-linked annuity (RILA) filing changes a priority for months.
RILAs
Life insurers sell many indexed annuities that are classified as non-variable insurance contracts. Those products are filed with state insurance regulators, not with the SEC. The non-variable contracts must protect the contract holder’s account value.
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